Determining Factors That Influence Brazilian Consumers Using Fintechs

Kaue Augusto Fernandes () and Cristina Helena Pinto de Mello ()
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Kaue Augusto Fernandes: ESPM
Cristina Helena Pinto de Mello: PUC-SP

Tržište/Market, 2025, vol. 37, issue SI, 47-62

Abstract: Purpose – The emergence of fintech’s has expanded the availability of financial products and services, introducing significant competition for traditional financial institutions. Nevertheless, limited research exists regarding the motivations behind Brazilian consumers’ adoption of financial start-ups. Design/Methodology/Approach – This paper aims to identify the key factors influencing the use of Fintech services in Brazil. The research is grounded in the UTAUT3 framework, supplemented with constructs from prior studies conducted in Germany, China, and South Korea- namely Brand Image, Trust, Data Security, and Government influence. A structured questionnaire was developed and distributed via targeted advertisements on Google and Facebook to individuals who had searched for the term “Fintech†, yielding 506 valid responses. Data were analysed using partial least squares structural equation modelling (PLS-SEM) to test the proposed hypotheses. Findings and Implications – Six out of twelve constructs from the UTAUT3 model were statistically supported. Of the international constructs, only Brand Image and Data Security demonstrated significant influence on usage intentions. Limitations – Further research should include larger and more statistically representative samples to better generalize the findings regarding Brazilian consumer behaviour in the fintech sector. Originality – This paper provides an updated and comprehensive perspective on user preferences, offering actionable insights for financial start-ups seeking to attract and retain customers in emerging markets.

Keywords: consumer behaviour; Fintech; adoption drivers; UTAUT3; Brazil (search for similar items in EconPapers)
Date: 2025
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